Climate Change Data

MCB Group Limited

Climate Impact & Sustainability Data (2023-07 to 2024-06)

Reporting Period: 2023-07 to 2024-06

Environmental Metrics

Total Carbon Emissions:16,833 tCO₂e/year
Scope 1 Emissions:455 tCO₂e/year
Scope 2 Emissions:11,365 tCO₂e/year
Scope 3 Emissions:5,014 tCO₂e/year
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Vibrant and sustainable local and regional economies
  • Environmental and cultural heritage
  • Individual and collective well-being
  • Responsible behaviour

Environmental Achievements

  • Continued to strengthen governance structures related to climate risk and sustainable finance
  • Signed inaugural USD 400 million Sustainability Linked Syndicated term Loan, with indicators linked to sustainable financing
  • Secured a USD 120 million loan from Proparco and DEG to support climate finance
  • Refined sustainable finance framework, including enhancing green taxonomy and developing a social taxonomy
  • Reduced operational footprint
  • Engaged in impact partnerships across Mauritius
  • Disbursed Rs 2 billion in funding to projects across several sectors under MCB Sustainable Loan

Social Achievements

  • Launched MCB Career Architecture and embedded ‘Shared Ways of Working’ to boost employee engagement
  • Progressed gender equality and workplace diversity agenda, earning EQUAL-SALARY certification (Africa’s first bank)
  • Signed inaugural USD 400 million Sustainability Linked Syndicated term Loan, with indicators linked to gender diversity
  • Provided training and development opportunities to employees
  • Conducted activities to promote employee well-being
  • Pursued support to communities through the MCB Forward Foundation
  • Achieved EQUAL-SALARY certification, affirming commitment to equal pay and gender equality

Governance Achievements

  • Undertook comprehensive materiality analysis for MCB Ltd
  • Launched sustainability training and awareness programme with Moody’s
  • Revamped Code of Ethics and Whistleblowing Policy
  • Enhanced approach to risk management and compliance across the Group
  • Undertook anti-bribery, corruption, fraud and anti-money laundering training

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Achieve 40% female representation in middle and senior management by 2026
  • Engage with at least 25 clients by 2026 to capture waste/resource efficiency data
Short-term Goals:
  • Reduce energy intensity by 23% by 2023 (partially achieved)
  • Reduce water intensity by 25% by 2023 (partially achieved)
  • Reduce paper consumption to below 100 tonnes by 2023 (not achieved)

Environmental Challenges

  • Data limitations in quantifying climate-related risks
  • Data availability limitations in determining baselines for impact analysis
  • Challenges related to improving resource efficiency and promoting a circular economy in Mauritius due to import dependency
Mitigation Strategies
  • Enlisted service provider to assist in measuring climate-related risks
  • Developed feasible ways for setting targets despite data limitations
  • Collaborated with UNEPFI to develop guidance on circular economy for responsible banking

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Favouring local suppliers where possible

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather events (cyclones, floods)
  • Rising sea levels
  • Higher temperatures
Transition Risks
  • Policy changes
  • Technological disruptions
  • Market shifts
Opportunities
  • Development of energy-efficient products and services
  • Growth in sustainable finance

Reporting Standards

Frameworks Used: GRI Standards 2021, UNEP FI Principles for Responsible Banking

Certifications: EQUAL-SALARY

Third-party Assurance: EY (limited assurance on UNEP FI PRB report)

UN Sustainable Development Goals

  • Not disclosed

Supports 16 of the 17 SDGs based on material issues and national priorities.

Sustainable Products & Innovation

  • MCB Sustainable Loan
  • Lokal is Beautiful scheme
  • Sustainable Supply Chain Finance
  • Sustainable Trade Finance Facility
  • Green Lease
  • Green Drive

Awards & Recognition

  • EQUAL-SALARY certification
  • Silver Award at Qorus Reinvention Awards – MEA 2024